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Search Results 0 to 49 of about 104 (some duplicates have been removed)
FOX Business
Dec 27, 2012 1:00pm EST
this time. tracy: fiscal clef finger-pointing underway in washington. harry reid says they're headed over the cliff. it is really about senator harry reid and mitch mcconnell? >> to develop the political staring contest democrats say republicans need to move and around rego. the president arrived this morning from hawaii and so with the top democrats and republicans but still no update to report. senate majority leader harry reid said it looks like we're going over a cliff and it is up to the house. >> speaker boner shed call people back to washington today and should not have let them go. they are not here. john boner cared more about his speakership than the financial footing. >> they're now working on a fiscal clear solutions they say the majority leader should talk less and legislate more. also mitch mcconnell says the leader is happy to review with the president what he has in mind but that a majority has not put forward a plan. when they do members will review legislation to make decisions on how fast -- best to proceed. >> it takes time for the house and senate to get something don
MSNBC
Dec 27, 2012 8:00am PST
speakership than keeping the nation on footing. >> john boehner's office fired back -- senator reid should talk less and legislate more. the house has already passed legislation to avoid the entire fiscal cliff. >>> the president gets set to land in washington this hour. there's new word that the president has called all four congressional leaders. reid, mcconnell, boehner and pelosi. . joining me to talk more, we have peter alexander standing by at the white house as well as nbc's mike viqueira on capitol hill. some verbal smackdown, basically flipping the lights back on and harry reid taking to the floor to eviscerate speaker boehner. >> the sad part is you often seen the floor opened that way. mitch mcconnell being later today. i'm sure we'll hear something later. to hear it two days after christmas and a matter of days before we go through the fiscal cliff, obviously not encouraging. harry reid says time is running hout. he doesn't know if they could go through the legislative hurdles. if they have the votes around here, they can legislate the sky is green and the grass is blue. that's
MSNBC
Dec 29, 2012 11:00am PST
yet to bear fruit and right now we do have the focus on the senate. majority leader reid and mitch mcconnell trying to hammer out a deal that would, to some extent extend the bush-era tax cuts for those making $250,000 although we might see that number go up to 400,000, 500,000 if there is some type of a deal. the president has called on a deal to extend unemployment insurance benefits so that is another aspect that they're negotiating, but clearly, these negotiations are difficult. they have been from day one and that is why we are seeing them go to the 11th hour, but again, as of right now one democratic source expressing skepticism about getting something done by the all-important deadline. craig? >> the president, of course, appearing on "meet the press" tomorrow. is there a sense that the white house needs to stay out in front of this to convince americans that he's doing his part to reach a settlement before zero hour? >> think that is part of it and we've seen president obama take this tactic before. during the payroll tax cut fight, you'll remember he ran out and talked to peo
MSNBC
Dec 28, 2012 8:00pm PST
, and for our entire economy. but the hour for immediate action is here. it is now. >> senate leaders harry reid and mitch mcconnell were back at the capitol in no time. mcconnell gathered his members to inform them of the work that needs to be done. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward, as early as sunday, and have a recommendation, that i can make to my conference and the majority leader can make to his conference, so we'll be working hard to try to see if we can get there in the next 24 hours. so i'm hopeful and optimistic. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is -- whatever we come up with is going to be imperfect and some people aren't going to like it. some people will like it less, but that's where we are. and i feel confident that we have an obligation to do the best we can and that was made very clear in the white house. and we're going to do the best we can for the caucuses that w
MSNBC
Dec 29, 2012 9:00am PST
going on right now, though the action is with the senate majority leader harry reid, minority leader mitch mcconnell trying to put together some alternative package that could in fact make its way through both houses. after they met with the president on friday, they sounded cautiously optimistic. here's what they had to say. take a listen. >> we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is whatever we come up with is going to be imperfect. >> and t.j., there's a lot of pressure on lawmakers and on the president to get something done. we've already seen the markets impacted by this. a lot of americans have just expressed frustration and concern over what's going to happen to their tax rates in the new year if in fact lawmakers can't get a deal. so there's a lot of public pressure to get something done on this. and of course, time is really running out. t.j.? >> kristen welker for us at the white house. than
CBS
Dec 28, 2012 6:30pm EST
reid to do this, put a bill on the floor that makes sure that taxes on middle class families don't go up, that unemployment insurance is still available for two million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's bare minimum that we should be able to get done. >> reporter: the president is pushing very hard, jeff, for that extension of unemployment benefits for americans who have been jobless for six months or more. they start losing that federal aid starting tomorrow morning. and it appears the president will get his way on that. the key sticking point now is at what level do higher income taxes apply? what income threshold. the president sat 250,000 per household. that was his campaign reelection promise. he's willing to go up a little bit higher. republicans are seeking something closer to $500,000. that's still to be negotiated in the next 24 hours. as i indicated earlier, it's vital to whether or not there is or is not going to be a deal. >> glor: m
CNBC
Dec 27, 2012 1:00pm EST
leader harry reid says the u.s. is probably going over the fiscal cliff. he's planning a news conference. we don't have the exact time. when it goes, we'll go there. investors getting quite nervous. obviously the dow dropping below 13,000. the first time since early december. fear index is spiking the vick. what going over the cliff will mean for you and your money. we will talk about it this hour. >>> airline stocks flying high sitting at 1 1/2 year highs. will it be smooth skies for the industry next year in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 3
CNN
Dec 27, 2012 6:00am PST
it does, the senate majority leader harry reid is expected to weigh in, in just about ten minutes on the looming fiscal cliff. reid and his fellow senators are under intense scrutiny after john boehner said the democratic controlled senate must act first on proposals already passed by his chamber. we will bring you reid's remarks as they happen. >>> as the clock ticks down toward the fiscal cliff, washington has a new worry the debt ceiling, treasury secretary tim geithner says the united states will hit its legal borrowing limit on monday. alison kosik is in new york. i feel like it's groundhog day. >> i know it really is. what's old is new again, right, carol? let me kind of back up the bus here. we start talking about the debt ceiling and i know people's eyes glaze over. let me tell you exactly what the debt ceiling is. it's a cap set by congress of the amount of money the federal government can borrow. right now the ceiling is at $16.394 trillion and treasury secretary tim geithner said earlier this week we could hit that debt ceiling on monday, on new year's eve and the treas
CNBC
Dec 27, 2012 9:00am EST
on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who haven't been following this kind of thing and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans
FOX Business
Dec 27, 2012 5:00pm EST
" tonight. brace for impact. senate majority leader harry reid says it looks like we'll head over the fiscal cliff. with just four days until the deadline can president obama and congress still pull out a deal in the nick of time? senator john hoeven of north dakota joins us to respond. >>> plus, a game-changer for the insurance industry. an auto insurer unveils new policies that charge by the mile, giving a big potential boon to drivers. can it drive the competition off the road? the ceo of metro mile is here to take the wheel. >>> and big beer companies putting beer goggles on their customers. the market for kraft beer is booming and big labels are battling to get a foothold but they may be using crafty tactics to sell you the same flat brew in different packaging. less filling tastes great. even when they say it's not it is always about money adam: before we serve you that beer let's look at the day's market headlines. stocks fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows followi
CNN
Dec 28, 2012 4:00pm PST
tonight putting the pressure squarely on the senate so broker a deal on the fiscal cliff. >> senators reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up or down vote, one that protects the middle class from an income tax hike, extends the vital life line of unemployment insurance to 2 million americans looking for a job, and lays the groundwork for future cooperation on more economic growth and deficit reduction. >> and just moments ago, senator harry reid says he's readying a bill for a vote by monday. all this follows a rare face to face-closed-door meeting at the white housed to between all the key players. the president, the vice president, the treasury secretary, and all four congressional leaders. huddled together with just four days to go before we all go over the fiscal cliff. that meeting lasted for an hour and five minutes. now on a story where every second and every maneuver counts let's get right to chi
FOX News
Dec 28, 2012 4:00pm PST
. and then i'm told that mitch mcconnell and harry reid, the democratic leader in the senate jumped in before john boehner really got a chance to fully respond and say, look, we will take the ball and try to pass a bipartisan bill in the senate. the president responded by saying i will give you a day or two but we're running out of time. if you don't get it done in the senate. i want an up or down vote. then he came out and addressed reporters in the briefing room it is clear that the president is only cautiously optimistic that this is going to take a look. take a listen. >> it if there are disagreements they sort through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. it needs to stop. i'm moderately optimistic that an agreement can be achieved. >> the president realizes after weeks of saying no they will get it done at the first time. they realize for the first time we may go off the cliff. harris. >> harris: they do call them experts for a reason the ones telling us this would be coming. >> plan a was basically the dramatic 4 tri
CBS
Dec 28, 2012 12:00pm PST
obama, john boehner, nancy pelosi and harry reid, many mitch -- mitch mcconnell all in one room. danielle nottingham tells us it maybe the last chance to get any kind of agreement to avoid that fiscal cliff. >> reporter: president obama is meeting today at the white house with top congressional democrats harry reid and nancy pelosi and leading republicans mitch mcconnell and john boehner. it's the president's first meeting with congressional leaders since november 16th. the closed door discussions are an attempt to reach a last minute agreement to avoid automatic spending cuts and tax increases due to kick in january 1st. >> probably the worst case scenario will come out of this meeting today and that is we will kick the can down the road. >> reporter: senator bob courter told cbs this morning he predicts the meeting will bring only a temporary solution. >> this afternoon's meeting feels much to me like optics to make it look like we're doing something. let me just say one more time this is a total dereliction of duty at every level. >> reporter: going over the cliff would af
FOX News
Dec 27, 2012 11:00pm PST
boehner and harry reid took him to task for it earlier. demanding that he bring the chamber of commerce back to session for a deal to be struck. >> the house of representatives with four days left aren't here with the speaker having told them he will give them 48 hours' notice. if we go over the cliff it will be with the knowledge that could have been done with a single vote. >> andrea: boehner's spokesman said reid should talk less. the speaker insists the senate should ask first for members to reconvene on sunday. we can go off the cliff. pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the constitution, you cannot start a bill on taxes in the senate. has to come from the house. there is a 48-hour limit because you have to have the house of representatives look at it. i think the deal is c
NBC
Dec 26, 2012 6:30pm EST
to avert the fiscal cliff is the senate, which returns tomorrow. majority leader harry reid is devising a partial solution that could ease economic fears. >> if we go over in a chaotic fashion, where members of congress are deeply grid locked with no sign of coming together, then we're likely to go over and stay over. and that's very problematic. >> reporter: going over the cliff would restore higher bush era tax rates and trigger deep spending cuts on january 1st. congress set up the harsh mechani mechanism, hoping it would force a compmise, but it hasn't. >> washington remains on square one in the fiscal cliff talks. >> reporter: congress reached this brink before christmas when speaker john boehner failed to get enough house republicans to support his solution, threw up his hands and said it's up to leader reid and the president. >> how we get there, god only knows. >> reporter: aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate spending cuts and restore unemployment benefits. >> what needs to happen now is for a sense of desperation amon
CNBC
Dec 27, 2012 12:00pm EST
. they will be trading down, judge, i think. and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the early part of 2013 -- >> i don't like it in january, judge, for what i just mentioned because we will see tax laws selling. we have not seen. we have seen gains selling, people taking gains. when they start taking these loss and when all the rest of this stuff kicks in, that's when i worry these guys will make an even worse deal in panic in january. >> let's go to our guests. what is the best way to protect your money with the cliff deadline a few days away, jason pride, director of glenn me. how are you doing? how do you perceive the markets with a couple days of trade iin left? >>
CBS
Dec 26, 2012 7:00am PST
, and chip reid is in washington. >> president obama will be arriving in washington tomorrow and both houses of congress will be back in session tomorrow. that will give them just five days to put together a deal to avoid the massive automatic tax hikes and spending cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be crafting a plan of his own. it's expected to extend bush-era tax cuts. it would also include short-term spending cuts instead of the massive cuts that would occur if there is no deal. it would also patch up the alternative minimum tax that will hit even more middle class families and schedule a
CNN
Dec 29, 2012 5:00am PST
and schedule a vote. so the pressure is on for senator majority leader harry reid, and mitch mcconnell, be sure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws,
CBS
Dec 27, 2012 7:00am PST
this morning while senators are coming back to capitol hill. chip reid is at the capitol. good morning. >> reporter: good morning. the president arrived back in washington in a little bit more than an hour. the senate comes back tonight and the house it could be a couple of days. there is not the sense of urgency you would think there would be with a critical deadline looming. some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is workin
MSNBC
Dec 23, 2012 12:00pm PST
service for the late senator daniel inouye. harry reid is also at that event. will he talk to president obama? white house officials right not being fairly tight-lipped on that matter. not telling us if there are any meetings scheduled at this point in time. they, again, call this a working vacation and say that staffers are working on this behind the scenes. melissa? >> hang on just a second. let me bring in nbc news political editor diminico montenero. what do you think about the majority leader flying all the way to hawaii? >> i think they realized they have three options, small deal, a big deal or go over the cliff, and right now the most likely scenario is a small deal. something that puts us past the fiscal cliff but then brings the fiscal issues into the new year which has a lot of potholes for the president. has a lot of things to get done on his legislative agenda, so worried about how going over the cliff might impact the economy immediately. >> who is more likely to take the blame if we do go over this cliff? >> that's a lot of what we're seeing. that's why you see john boehn
MSNBC
Dec 29, 2012 7:00am PST
. >> senators reid and mcconnell are discussing a potential agreement to where we can get a bipartisan bill out of the senate over to the house and done in a timely fashion so that we met the december 31st deadline. but, given how things have been working this this town, we always have to wait and see until it actually happens. >> so there you have it. there will be a deal when there is a deal. i think that is howie mandel had been at the meeting, perhaps thing things have gone better, because he could have given the nation's leaders a lesson on probability 101. this is what we know are the the his own fiscal cliff show. most of the contestants make a choice not dealing with the real world mathematical probabilities of the situation they are in. contestants don't look at the innate silver, but they are driven by their emotions. contestants behave in more risky ways and taking bigger chances when less likely to pay off when prior expectations have been shattered by eliminating prior briefcases or other expectations have been surpassed by opening low-value briefcases. in other words, contestants
FOX News
Dec 28, 2012 3:00pm PST
reid. and what he may be able to strike to get at least some republican support. >> house republicans voted pass the tax cut and automatic cut to defense and domestic program starting in the new year. so they shifted the focus for the need for majority leader harry reid and the senate democrats to do something. >> the way the senate is fon functionm right now, not even bringing the bills upper committee is frustrating to those of us in the house that are doing the work that has to be done. if senate wants to resolution, the senate has to actually pass something on this. we have done our work. senate has to respond. >> challenge is determining what passed the republican-led house and democrat-controlled senate. fiscal conservatives say a smaller stop gap measure to avoid the cliff won't work. >> if we, in fact, do not use this period of time before right now, deal with the bigger issue and entitlements, if we just continue to kick the can down the road. the market will respond in a more permanent and negative way to our inaction. >> one thing leading republicans and democrats seem to a
MSNBC
Dec 22, 2012 12:00am PST
reid today, but still there is no deal. the president took to the podium late this afternoon to explain the next step. >> in the next few days, i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> you know, president obama today could have come out, and he could have just punched boehner right in the nose. he could have come out and kicked the guy today when he was politically down. but the president came out today with a demeanor of, hey, let's do a deal. it was a rough night at the office, but let's not give up on this. president obama has gone back to the basics. the days of the grand bargain he knows are over. but the president wants an extension on tax cuts for income below $250,000, as well as extended unemployment benefits. what's wrong with that? spending cuts can be dealt with later on in the future. and, of course, as luck would
ABC
Dec 27, 2012 4:00pm PST
1 deadline. this may already be too late. five days until the fiscal cliff. hairy reid admitted a deal seems unlikely. >> i have to be honest. i don't know time wise how it can happen now. >> reid called john boehner a dictateor and paintin painting -- pointing blame on him. >> we're here in washington working. wile members of the house of representatives are out watching movies and watching the kids play soccer and baseball. john boehner seems to care more about keeping his speakership. >> the republican leader says the democrats have failed. the only reason democrats have been trying to deflect attention on to me and my colleagues over the past few weeks is that they zront a plan of their own. >> the president return forward a last minute push before leaving on vacation in hawaii. he had separate phone conversations but it isn't clear talks helped. >> hopefully there is time for an agreement of some kind. >> washington's failure threatens to undermine the fragile economic recovery. americans face big tax hikes on newer's day. and treasury department warns the dopt will be soon
CBS
Dec 21, 2012 5:30pm PST
met with harry reid at the white house and spoke with house speaker john boehner. mr. obama said lawmakers need a break from fiscal cliff frustration-- much of it self- induced. >> we move forward together or we don't move forward at all so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. >> reporter: the president will follow his own advice. lawmakers and return to washington if there is a deal. >> pelley: major, thank you. as you know, this debate is all about bringing the federal budget under control. if the white house and congress can't figure it out, big across- the-board budget cuts and those tax increases we mentioned kick in automatically january 1. the so-called fiscal cliff. the republican speaker of the house tried to force through his solution last night but he couldn't keep his own party in line. nancy cordes is at the capitol. nancy? >> reporter: scott, this was an unforced error. speaker boehner did not have to bring this plan "b" bill up but he was simply trying to get more leverage in negotiati
MSNBC
Dec 27, 2012 2:00am PST
leader harry reid and the rest of the senate to find a passable solution. aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate some big spending cuts and restore unemployment benefits. >> i think you're likely to see a two-step process here, one sort of dealing with the immediate dynamics so that you could in fact set up a situation where you could deal with the larger situation. >> reporter: without a deal, bush-era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline, hoping it would force a compromise. so far, that's backfired. also flying back on air force one is lieutenant governor brian schatz and will likely be sworn in later today. just before taking off, he tweeted that he's looking forward to supporting the president's agenda. reporting live in washington, i'm dan yeielle leigh. mara, back to you. >> thank you. >>> tim geithner is adding to the pressure to get the office calf cliff deal done. in an open letter wednesday, he warned the federal government may not be able to pay its bills on
CNN
Dec 28, 2012 11:00am PST
and harry reid. republicans mitch mcconnell and john boehner. those four members of congress are expected to make the drive from the capital, which you see on the right, down pennsylvania avenue, to the white house, there on the left. and we expect them to enter through a side door on the west side of the mansion. that's the entrance right there. and they'll meet with the president. in the oval office. beginning, we're told, at 3:00 p.m., less than one hour from now. and just four days ahead of the so-called fiscal cliff. so a very big moment in the nation's capital. and to walk us through what might happen we turn to jessica yellin, a chief white house correspondent. jessica, we said up front, it is a long shot, give us a best case scenario. >> reporter: the best case scenario would be that all the leaders walk out of this meeting and say they have a deal. the two senators say they can bring it to a vote, and none of their members will filibuster it. house speaker john boehner says he will bring it to the house floor for a vote before new year's eve and house minority leader nancy pelosi
CSPAN
Dec 27, 2012 1:00pm EST
whip speaks to reporters. in the meantime, we will bring you harry reid who opened the senate session this morning with comments on the situation, and we will hear what he had to say about the fiscal cliff now. : new year's eve is fast approaching and for decades and decades the american people have watched the ball drop in times square. it's the countdown to midnight, the start of a new year. but this year, mr. president, the american people are waiting for the ball to drop but it's not going to be a good drop. because americans' taxes are approaching the wrong direction. come the first of this year, americans will have less income than they have today. if we go over the cliff, and it looks like that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year aren't here with the speaker having told them they'll give them 48 hours' notice. i can't imagine their consciences. they're out wherever they are, around the country, and we're here trying to get something done. they are not in washington, d.c. the h
CNBC
Dec 26, 2012 7:00pm EST
sent a letter to the honorable harry reid majority leader. and that's where he outline it is fact that in three business days, the summit government is going to run out of borrowing capacity. john, if there were a treasurer in a business who went to their boss and said by the way, three business days, the working capital account dies and as a result, you are not going to make payroll next week, that person would be fired. we get three days notice about hitting the debt ceiling? that seems absurd to me. >> it is not a surprise.rise we have known we were coming to this point and there are two months more -- geithner estimated in that letter that the ways in which the federal government can manage money will give about would months worth of head room, possibly even longer. february or march or -- where we really get to the -- rubber hits the road on that issue. so -- this is not a shock to anybody in government but the publication of this letter and the elevation of the issues in attempt was done in 2011. there was an early moatfication by treasury this was about to happen, trying to
CNN
Dec 28, 2012 11:00pm PST
, senator harry reid says he's readying a bill for a vote by monday. all this follows a rare face-to-face closed door meeting at the white house today between all the key players, the president, the vice president, the treasury secretary and all four congressional leaders huddled together with just four days to go before we all go overs fiscal cliff. that meeting lasted for an hour and five minutes. on a story where every second and every maneuver counts, let's get chief to white house correspondent jessica yellin. jessica, the president says he's modestly optimist being but each also presented a backup plan. does the president really think it will come to that? >> at this point, no, they don't, john, because the white house is hopeful that the agreement that the senators are working on can actually move forward after the meeting here. there is a modest uptick in enthusiasm about that possibility. but as forts backup plan, there's no real likelihood that would ever come to a vote because republicans would likely block it in both the senate and might -- it would likely not come to
PBS
Dec 21, 2012 5:30pm PST
and will not be done with a partisan vote. >> holman: senate majority leader harry reid agreed with that assessment, but he suggested there's a way to recover. >> now, i like john boehner, but gee whiz, this is pretty big political battering he's taken. what he should do is allow a vote in the house of representatives on a bipartisan bill. it will pass. >> holman: the president met this afternoon with reid and spoke with boehner, then came to the white house briefing room. >> in the next few days work towards a package that avoids tax hike on mid class, >> and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> bayne never >> holman: in his appearance earlier, boehner, flanked by majority leader eric cantor, sounded doubtful, but said he's willing to try. >> how we get there, god only knows. all i'm telling you is that eric and i, and our team here are committed to working with our colleagues on both sides of the aisle, both sides of the capitol, and the white house to address that. >> holman: still, as the capitol
FOX Business
Dec 26, 2012 11:00am EST
christmas short. harry reid and democrats expected to lay the groundwork for yet another plan to avoid the looming tax increases and spending cuts. old man winter wiping out the holidays for many people in the country. his work is not done yet. people worried about washington keeping their spending type. time for stocks now. nicole petallides is at the new york stock exchange. nicole: the dow is down about ten points. the s&p pulling back one quarter of 1%. a lot of the retailers loved like the biggest losers. 500 stocks are comprised and represent oriole to autos to airlines. the sector that was really lagging where the retailers. oil has been moving to the upside. there is a lot going on with that. and oil spike of two dollars. now, let's take a look at technology. we do see some of the tech stocks doing pretty well. hewlett-packard and intel have been among the real losers for the year 2012 on the dow. today, you continue to see this trend which is a little better. back to you. dagen: thank you. the senate returning to washington tomorrow. the president, as well. five days left to r
KBCW
Dec 27, 2012 10:00pm PST
: senate majority lyddite harry reid skewered house speaker john boehner, charging he's more interested in his leadership position than in bipartisan legislation. >> the speaker's number one goal is to get elected speaker on january 3rd. >> reporter: the two sides are at odds over tax cuts and spending. republicans say it's up to the democraticly controlled stat and white house to reach an agreement. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: members of the house were told to come back to washington sunday evening. they would have a little more than 24 hours to vote on a measure to avoid the fiscal cliff. danielle nottingham, cbs 2 news washington. >> a former bay area city councilman is about to learn firsthand how washington works or doesn't. he's a newly elected congressman and heading into a capitol hill quagmire. how the representative elect plans to help fix our fiscal ills. >> you're the freshman walking in. >> i'm ready to act. >> reporter: 31-year-old newly ele
CW
Dec 28, 2012 9:00pm CST
democratic counterpart harry reid are supposed to keep talking tomorrow there could be a breakthrough by the end of this weekend but the president has repeatedly demanded for the extension of tax cuts below $250,000. illinois comptroller judy thinks that the impact on illinois could be as high as $1 billion if lawmakers don't strike a deal before the deadline. social security and income tax increases would lower the state's revenue by up to 5 billion. this is all coming down the pipe because we have yahoos in congress who can't sit down and to do the job. pessimism helped push stocks down friday for a fifth straight day the industrial average dropped 158 points. paul lisnek says lawmakers know what's at stake if we passed the deadline with no deal. >>, chris can peddle their way back the economy may not be able to withstand the pressure, it's too fragile so i really believe that members of congress will actually put the needs and the welfare of the country ahead of their own political future. >> we had a significant murder rate here in chicago the 500th person was killed last night
FOX Business
Dec 28, 2012 4:00pm EST
leader harry reid to leave the west wing. but at his point, three out of the four left. didn't say a word. we don't expect the senate majority leader to do anything different and actually talk to us about this one. so we're basically waiting for congressional aides to leak it to us. david: one thing that was just leaked to us, house speaker boehner is not going to the capitol. again they will have, they will meeting tomorrow. they may even meet sunday or even on new's year day, seems like things are wrapped up as far as john boehner is concernee. rich edson, thanks very much. shibani? shibani: goldman sachs ceo lloyd blankfein one of the ceo's set to speak with the president in an hour's time on latest details on the fiscal cliff talks. the financial sector on track for its biggest gain in nine years. what remains ahead for financials and what is at stake stake for the industry with the fiscal cliff looming? let's ask marty mosby, guggenheim bank analyst. let's talk about first, marty, we hear lloyd blankfein will be on phone to talk to president obama trying to garner his support,
KOFY
Dec 28, 2012 9:00pm PST
. >> president is optimistic but if deal can't be reached this weekend he will tell senate leader reid tiny introduce a fall back bill. >> bill on the floor that make sure that taxes on middle class family don't go up. that unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion dollar drop in the nation gross domestic product. that's the value of all the goods and services produced. for california it means defense spending would be cut by half billion dollars. 12,000 children from low income family would look the access to head start programs, 2,000 fewer women not given screening for breast cervical cancer. domestic violence people would lose services. 8,
MSNBC
Dec 22, 2012 1:00pm PST
and it was no surprise that harry reid was meeting yesterday, it would be a short-term fix to prevent the fiscal cliff. the other is the grand bargain, and time is running out, it's unlikely you will get something like that, however, there's a chance that john boehner and republicans say, mr. president, the last offer that you had on the table, we agree to. and the third option is going over the fiscal cliff and as my colleague has pointed out time and time again, that seems to be the more likely option for everyone, because you end up going over and then that would allow republicans to countenance cutting taxes the way that president wants to do and that seems to be the direction we will be going. >> that third option, juftd going over the cliff, what are you hearing from the white house? is there a sense of confidence that if that were to happen that they would rebound better than republicans? >> reporter: well there's a sense in part, if you look at the polls, the majority of americans say they would blame republicans if the country were to go over the fiscal cliff. the white house feels they are i
FOX
Dec 29, 2012 6:00pm EST
harry reid sounded cautious, warning americans whatever they come up with by sunday won't be perfect. after the meeting, president obama made it clear failure is not an option. >> if we don't see an agreement between the two leaders and the senate, i expect a beam to -- bill to go on the floor, and i have asked senator reid to do this, put a bill on the floor that taxes on the middle class families don't go up, that unemployment insurance is available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps we can take in the new year. >> reporter: if the congressional leaders don't reach a deal by december 31st, the financial markets could one is a bit and, consider this. the current congress is only in session until noon on january third. after that, 13 new senators and 82 new house members would take over and try to solve the problem and that is an overwhelming task out of the gate. back to you. >> thank you for. that. >>> we want to get back to the weather. let's take a live look outside. the snow and rain has tapered off
CNN
Dec 27, 2012 2:00am PST
from its christmas vacation to work on a deal today. sources tell us majority leader harry reid will be pushing a scaled back version of the fiscal cliff package that president obama laid out last week. it moved the tax hike needle to $400,000 per household. no word yet on when the house might come back with time ticking away. democrats are hoping that a scaled back plan could get through the house, senate and white house before that big ball drops on 2013. that would be sometime on december 30th or even on new years eve. we want to bring in jonathan allen. he's a senior national correspondent for politico. the top headline on politico is fiscal cliff deal increasingly unlikely. i think a lot of people are feeling that pessimism right now. what are you hearing? >> well, i think what you've got here, alena, is a nash equilibrium to borrow from economic theory and game theory. each of the players believe they are pursuing their optimal strategies given the strategies of the other players and there's no reason to change it. i think as observers of this, the american public, you can
CNBC
Dec 28, 2012 6:00am EST
. both sides still far apart, however, on taxes and spending cuts. senate majority leader harry reid says prospects for a deal by monday are still unlikely. there was a lot of movement, motion for not a lot of action. >> where were you yesterday? >> i was here. we were together. >> were we ever with our -- no. but there were duelling senate leaders just -- first mcconnell came on. and he said -- did you see either one of those? >> i did. >> did you see harry reid? >> there's no chance of -- >> but if you think -- i want to rise above. there was so little of anything close to that yesterday other than just the -- i mean, people at home must be like, it's the endless blaming and finger pointing and, you know, when one side says it's all the other side's fault and all the other side comes on and says people at home aren't going, wow, i believe you, harry. or i believe i, mitch. they're saying you're both losers, right? >> right. >> my real concern is this is what the current version of america actually voted for. >> the house is different. all politics is local. harry reid, you know which in
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